An introduction to
buying extra pension

You can buy extra pension, no matter what other benefits you will build up anyway. You decide how much extra pension you want to buy, in £250 steps. So for example you can boost your pension by £250, or £500, or £750 - all the way up to a maximum of £5000.

When you draw your benefits, you don’t just get the amount you chose to buy, but instead you get the inflation proofed value of this extra pension.

How to pay
You buy extra pension by paying an extra amount each month - and you choose exactly how many years you want to spread the cost over. Once you have signed up, the contributions come out of your pay automatically, and if you’re a tax payer, you will automatically get tax relief too. Unlike your normal contributions which are a percentage of your pay, you buy extra pension by paying an amount of money each month - so as time goes on, the cost of this will seem less in relation to your pay.

Working out the cost
The cost to you depends on:

How much extra pension you want to buy
Your age when contributions begin
Whether you are a man or a woman
What period you want to spread the cost over
Whether you want to buy extra pension for yourself only, or also for your dependants.

Because of this, there are literally hundreds of different cost combinations, but to see some examples, click here.

More about Buying Extra Pension
Buying Extra Pension Illustration Request Online Form

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